HC Wainwright Increases First Majestic Silver (NYSE:AG) Price Target to $11.50

First Majestic Silver (NYSE:AG) (TSE:FR) had its price objective boosted by HC Wainwright from $11.00 to $11.50 in a report issued on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the mining company’s stock.

Several other brokerages have also commented on AG. National Bankshares reaffirmed a “sector perform” rating on shares of First Majestic Silver in a research report on Wednesday, April 2nd. StockNews.com raised First Majestic Silver from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. TD Securities upgraded First Majestic Silver to a “hold” rating in a report on Monday, March 10th. Finally, Scotiabank restated a “sector perform” rating and set a $6.00 price target on shares of First Majestic Silver in a research note on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.75.

First Majestic Silver Stock Up 7.1%

Shares of NYSE AG opened at $5.90 on Friday. The company has a 50 day simple moving average of $6.31 and a 200 day simple moving average of $6.11. The firm has a market cap of $2.86 billion, a PE ratio of -16.86 and a beta of 0.81. First Majestic Silver has a 1 year low of $4.43 and a 1 year high of $8.09. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 2.12.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Wednesday, May 7th. The mining company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $241.12 million for the quarter, compared to analyst estimates of $358.65 million. First Majestic Silver had a negative return on equity of 3.07% and a negative net margin of 18.17%. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same period last year, the business earned ($0.05) EPS. On average, research analysts forecast that First Majestic Silver will post 0.54 EPS for the current year.

First Majestic Silver Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.0057 per share. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.02 dividend on an annualized basis and a yield of 0.39%. First Majestic Silver’s dividend payout ratio is presently -3.45%.

Hedge Funds Weigh In On First Majestic Silver

Several hedge funds have recently made changes to their positions in the company. Barclays PLC purchased a new position in shares of First Majestic Silver during the 3rd quarter valued at approximately $2,419,000. Realta Investment Advisors lifted its position in First Majestic Silver by 16.8% in the fourth quarter. Realta Investment Advisors now owns 497,726 shares of the mining company’s stock valued at $2,882,000 after buying an additional 71,456 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in First Majestic Silver by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 565,982 shares of the mining company’s stock worth $3,109,000 after acquiring an additional 18,219 shares in the last quarter. Principal Securities Inc. boosted its position in First Majestic Silver by 30.3% in the 4th quarter. Principal Securities Inc. now owns 21,500 shares of the mining company’s stock valued at $118,000 after buying an additional 5,000 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of First Majestic Silver during the fourth quarter worth approximately $2,442,000. 27.16% of the stock is owned by institutional investors and hedge funds.

About First Majestic Silver

First Majestic Silver Corp. engages in the acquisition, exploration, development, and production of mineral properties with a focus on silver and gold production in North America. Its projects include the San Dimas mine covering an area of approximately 71,867 hectares located in Durango State, Mexico; the Santa Elena that covers an area of approximately 102,244 hectares located in Sonora State, México; and the La Encantada covering an area of approximately 4,076 hectares located in Coahuila State, México.